Pre-Approval, Pre-Qualification or DU? What do we want?

Thinking of Selling? Make it a requirement that a buyer is prequalified before accepting an offer. Hi I’m Joanna Jimenez with the Opes Real Estate Group. Requiring a buyer to submit a DU Underwritten Approval or a Desk-Top Underwritten approval could save you a lot of headaches down the road. I see too many deals blow up because an offer is accepted prior to the buyer being fully qualified to purchase a house. There is a difference in a prequalification letter and an underwritten approval. Do you know the difference? A desktop underwritten approval confirms the lender has put all of the buyers information (credit, income, debt, etc)  into their system to meet Fannie Mae guidelines or most conforming loan guidelines. This is why it is a stronger letter than just a letter confirming receipt of a tax return. For more information on prequalifications and underwriting approval connect with me.

Sellers Tip- Pre approval, Pre-qualificiation or DU?

m Joanna Jimenez make it a great day.

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